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Downtown parking lot sells for $3.55M

A parking lot at Eighth Avenue and Seneca Street in Seattle, kitty-corner from Town Hall, has sold for $3.55 million.

The 7,200-square-foot site, which is zoned for a high-rise building, was sold to Levin Menzies LLC of Walnut Creek, Calif., by Kauri Investments Ltd. of Seattle. Levin Menzies bought the adjacent Alfaretta apartment building at 802 Seneca St. from Kauri for $3.9 million in 2005, and it also owns an adjacent apartment building.
The apartments are expected to be torn down and a 22-story condominium project is expected to be built on the site by Levin Menzies.

http://www.bizjournals.com/seattle/stories/2007/03/19/daily30.html?jst=b_ln_hl
 

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I like the design of this building very much. Nice location too, right across from the freeway park.
 

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I went by the site yesterday and saw a new land use proposal sign on the fence. The newest proposal is for a 31 story building. Additionally it would be a single tower (instead of the previous 2 tower proposal) and would have a smaller footprint (according to this). I haven't seen any renderings of the newest proposal.
 

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Awesome! Thanks for posting. 31 stories would be excellent right there! If only there were more of that height on the hill!
 

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Awesome!!! I hope it will be built soon because this site have been eyesore for years. I bet it might be called "Alfaretta Tower" too. I am looking forward to see new renderings.
 

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Yah I'm definitely looking forward to the new renderings! Hopefully they offer one that highlights it's impact on the skyline. A view coming up I-5 is the angle I'm most interested in.
 

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The old building was pretty, and I think the apartments in it were relatively cheap. It's too bad that they timed demolition wrong -- it would have been good for the building to have stayed up for the last 3 or 4 years.

Oh well. It's gone now, and that was going to be a great spot for a 30+ story building sooner or later.

Also: 323 units, 324 parking spaces? That must be exactly matching the parking minimum -- presumably one parking space per unit, plus one for the 3200 foot retail area. But I thought parking minimums had been relaxed in areas near transit -- is 8th and Seneca not in a no-parking-minimum transit zone?
 
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